Jim Cramer: This Isn't the Boeing I Know
Let's talk about Boeing .
The stock was under pressure Monday after it was getting its price target cut.
Credit Suisse analyst Robert Spingarn cut Boeing to neutral from outperform and pared his price target to $323 from $416 after publication of instant messages by an ex-senior test pilot at the company that he "unknowingly" misled safety regulators about a 737 MAX control system.
"We can no longer defend the shares in light of the latest discoveries, [which] significantly increase the risk profile for investors," Spingarn said in a note to investors.
"The Boeing I know is a company that would sacrifice anything for safety and would never...have a shortcut.
Now maybe all the messages are wrong and all the polls are wrong...But the Boeing that had the B29 that saved my father's life, and many of the people in the sixth army...is not being run the way I expect Boeing to be," said Jim Cramer.
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